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MOC > SEC Filings for MOC > Form 8-K on 23-Jul-2013All Recent SEC Filings

Show all filings for COMMAND SECURITY CORP



Change in Directors or Principal Officers, Financial Statements and Exhibit

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 22, 2013, the Board of Directors (the "Board") of Command Security Corporation (the "Company") increased the number of directorships of the Company to five and appointed Mark J. Sullivan to Class II of the Board to fill the newly created vacancy. Mr. Sullivan was also appointed to the Compensation committee of the Board. In connection with Mr. Sullivan's appointment to the Board and the Compensation committee, the Company granted Mr. Sullivan a stock option to purchase an aggregate of 50,000 shares of the Company's common stock at an exercise price of $1.43 per share. This stock option vests and may be exercised with respect to 1/12th of the shares covered thereby at the end of each month during which Mr. Sullivan has served as a member of the Board. Following this initial grant, Mr. Sullivan will be entitled to the same annual compensation for serving as a director and member of a Board committee as each of the Company's other independent directors; provided that Mr. Sullivan's annual compensation for Board and committee service in fiscal 2013 will be proportionately reduced to reflect that he will not have served in such capacities for the Company's entire fiscal year.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 Press Release dated July 23, 2013

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